ASUR and Dufry settle rent dispute in Mexico – 10/08/05

MEXICO. Airports operator Grupo Aeroportuario del Sureste (ASUR) and Swiss travel retailer Dufry have settled a multi-million dollar dispute dating back to an April court ruling.

ASUR, which operates the airports of Cancun, Merida, Cozumel, Villahermosa, Oaxaca, Veracruz, Huatulco, Tapachula and Minatitlan, announced yesterday that Dufry Mexico has paid the US$4 million award owed to the airport company following a final ruling by the International Court of Arbitration in April.

As previously reported, ASUR had initiated arbitration proceedings with Dufry in 2004 in order to settle a dispute over amounts owed by the retailer for the operation of its duty free stores at Cancun airport.

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